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Top financial services trends of 2024

IBM Big Data Hub

The start of 2024 brings forth many questions as to what we can expect in the year ahead, especially in the financial services industry, where technological advances have skyrocketed and added complexities to an already turbulent landscape. One example of this is in insurance.

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Building for operational resilience in the age of AI and hybrid cloud

IBM Big Data Hub

For highly regulated industries, these challenges take on an entirely new level of expectation as they navigate evolving regulatory landscape and manage requirements for privacy, resiliency, cybersecurity, data sovereignty and more. Similarly, in the U.S.

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Mastering healthcare data governance with data lineage

IBM Big Data Hub

Healthcare organizations need a strong data governance framework to help ensure compliance with regulations like the Health Insurance Portability and Accountability Act of 1996 (HIPAA) in the US and the General Data Protection Regulation (GDPR) in the EU. Despite this, many healthcare organizations face challenges.

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Regulatory Update: NAIC Fall 2018 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Fall 2018 National Meeting (Fall Meeting) in San Francisco, California, from November 15 to 18, 2018. NAIC Continues its Evaluation of Insurers’ Use of Big Data. GCC using a risk-based capital aggregation methodology. sector; and.

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Regulatory Update: NAIC Summer 2021 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2021 National Meeting (Summer Meeting) August 14-17, 2021. Highlights include, among others, adoption of revised risk-based capital bond factors for life insurers, amendments to SSAP No. The changes are effective December 31, 2021.

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Getting ready for artificial general intelligence with examples

IBM Big Data Hub

Nearly all respondents reported promising early results from gen AI experiments and planned to increase their spending in 2024 to support production workloads. 46% of survey respondents in 2024 showed a preference for open source models. Audio (56%) : Gen AI call centers with realistic audio assist customers and employees.

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Preparing for the EU AI Act: Getting governance right

IBM Big Data Hub

The European Parliament reached a provisional agreement on the EU AI Act in December 2023, it is now making its way through the final phases of the legislative process and is expected to rollout in stages in the second half of 2024. Higher risk tiers have more transparency requirements including model evaluation, documentation and reporting.